Paterson Family Foundation Inc in Montpelier, Vermont (VT)

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Paterson Family Foundation Inc
Employer Identification Number (EIN)205417463
Name of OrganizationPaterson Family Foundation Inc
Address171 Westview Meadows Rd Apt 10, Montpelier, VT 05602-3391
SubsectionCharitable Organization
Ruling Date11/2006
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$500,000 to $999,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$503,771
Amount of Income$176,193
Form 990 Revenue Amount$39,628
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2014: $176,193 (it was $254,441 in 2013)
This organization: 

 $176,193
Other organizations performing similar types of work: 

 $105,489

Assets in 2014: $503,771 (it was $573,877 in 2013)
This organization: 

 $503,771
Other organizations performing similar types of work: 

 $325,460

Expenses in 2014: $144,398
This organization: 

 $144,398
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2014: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 66.6%
This organization: 

 66.6%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Expenses for 2014

Analysis of Revenue and Expenses (for 2014)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$74,292$24,794$0
Contributions, gifts, grants, etc., received$49,498
Interest on savings and temporary cash investments$2
Dividends and interest from securities$22,624
Gross rents$0
Gross sales price for all assets$104,069
Gross profit from sales of goods$0
Other income$0
Other$2,168
Total expenses and disbursements$144,398$1,040$0$143,358
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$1,251
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$1,398$1,040$358
Contributions, gifts, grants paid$143,000
Excess of revenue over expenses and disbursements$-70,106
Net investment income$23,754
Adjusted net income$0
Balance Sheets
201220132014
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$715,557$615,284$573,877$561,526$503,771$459,627
Cash - non-interest-bearing$126$0$0
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$680,431$557,226$497,960
Other assets$0$0
Total liabilities$0$0$0
Total liabilities and net assets/fund balances$715,557$573,877$503,771
Capital Gains and Losses for Tax on Investment Income
201220132014
Capital gain net income$0$0$2,168
Net capital loss$-10,929$-20,654$0
Excise Tax Based on Investment Income
201220132014
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$150$102$238
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$102$238
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201220132014
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201220132014
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201220132014
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$594,896$567,907$555,033
Net value of noncharitable-use assets$559,388$546,708
Minimum investment return$29,299$27,969$27,335
Distributable Amount
201220132014
Distributable amount$29,149$27,867$27,097
Undistributed Income
201220132014
Distributable amount for this year$29,149$27,867$27,097
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2011 - 2014)
2014201320122011Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2014)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2014)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$2$0
Dividends and interest from securities$22,624$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Serena Foundation IncPO BOX 988, Burlington, VT 05402-0988VT2010-08$16,300,181
2Generation Fund IncPO BOX 988, Burlington, VT 05402-0988VT2010-08$16,291,330
3Three Thirty Three Foundation Inc112 South Main Street Box 220, Stowe, VT 05672-5406VT2006-12$10,220,346
4The Pizzagalli Foundation346 Shelburne Rd Ste 601, Burlington, VT 05401-4935VT1988-02$5,222,499
5Richard E And Deborah L Tarrant Foundation Inc20 Winooski Falls Way Ste 450 Po Bo, Winooski, VT 05404-2228VT2001-03$1,447,723
6Tag Philanthropic Foundation73 School St, Stowe, VT 05672-4447VT2008-08$1,266,687
7Robert J Greene Irrev TrPO BOX 1015, Manchestr Ctr, VT 05255-1015VT2010-09$1,124,188
8Rutland Health Foundation Inc160 Allen St, Rutland, VT 05701-4560VT1997-12$1,054,500
9Wisdom Connection Inc333 Atherton Way, Greensboro, VT 05841-8091VT2003-12$1,026,019
10Redducs Chartered Foundation Corporation, Redducs Foundation119 Pleasant View Ln, Hinesburg, VT 05461-9779VT1999-02$654,052
11Dendrifund IncPO BOX 184, Waitsfield, VT 05673-0184VT2013-09$263,725
12Ann A Mergens Foundation IncPO BOX 662, Shelburne, VT 05482-0662VT2012-02$191,082
13William Dean Fausett Charitable TrustPO BOX 1015, Manchestr Ctr, VT 05255-1015VT2004-01$84,392
14Vermont Crafts CouncilPO BOX 938, Montpelier, VT 05601-0938VT2006-02$75,713
15Stony Water 2005 Charitable Tr, Murphy Sandra TteePO BOX 1349, Manchestr Ctr, VT 05255-1349VT2007-01$22,570
16Roberta And Russell Housman Charitable Foundation Inc38 Mckee Rd, Arlington, VT 05250-9620VT2010-03$18,453
17Oertly Surianata Family FoundationPO BOX 1008, Quechee, VT 05059-1008VT2013-07$16,732
18The Giving World Foundation IncC/O April Cornell 131 Battery St, Burlington, VT 05401VT1999-11$16,100
19Champlain North Foundation Inc183 Appletree Point Rd, Burlington, VT 05408-2446VT2008-08$14,985
20Wyatt Family Foundation555 Camels Hump Rd, Huntington, VT 05462-9792VT2012-02$10,000
Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia481
Hawaii85
Iowa178
Idaho58
Illinois1,113
Indiana311
Kansas157
Kentucky167
Louisiana161
Massachusetts705
Maryland425
Maine85
Michigan619
Minnesota384
Missouri346
Mississippi70
Montana69
North Carolina788
North Dakota20
Nebraska169
New Hampshire75
New Jersey876
New Mexico92
Nevada215
New York2,617
Ohio698
Oklahoma228
Oregon208
Pennsylvania1,086
Rhode Island184
South Carolina171
South Dakota32
Tennessee266
Texas1,263
Utah274
Virginia477
Vermont54
Washington401
Wisconsin354
West Virginia69
Wyoming63
International44
Total22,395

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